Planning to buy a new house in Scottsdale, AZ? Now could be the ideal time! Interest rates are currently low, but experts predict they may rise significantly in the coming years. Secure a loan and purchase your dream home while rates remain affordable.

Here are some things you need to know about interest rates:

• Majority of home buyers need to get a loan when buying a new house. It is highly likely that you need it too. Apply for a mortgage loan to take advantage of low interest rates.
• It is imperative that you check out 30-year fixed mortgage rates prior to house purchase; 30-year mortgage rate sits at 4.5% these days.
• Mortgage rates fluctuate and that is why timing is really important to get your dream house.
• As of the moment, the mortgage market environment has kept home buying affordable, despite the fact that home prices are rising not just in Arizona, but across the country.
• Back in 2007, the interest rate went as high as 6.4% compared to around 4.5% this year – imagine how interest rates change in just a relatively short span of time.

When to buy

Apart from mortgage rates, seasons also influence home buying. The reason is pretty basic – supply and demand. So, keep an eye on seasonal advantages prior to purchase, and here are some insights that you might consider useful:

• History has shown it is favorable to purchase a new house in Scottsdale, AZ between the late fall and early winter. Again, this is due to supply and demand.
• Starter home inventory increase 7% between the month of October and November.
• Inventory drops in popular moving months, such as the spring and summer; the lack of inventory affects the price by making it more expensive.
• It is an intelligent move to find prospective properties in the fall and then wait until winter to make an offer.

Do you have more questions about getting a trusted deal on mortgage? Contact HomePlus today at: 800-810-PLUS (7587)